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Bye bye cash

Community Veteran
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Registered: 21-03-2011

Bye bye cash

I just read a chilling little snippet of news. Telecom Italia is distributing mPOS chip card readers to small businesses as Italy enacts new legislation requiring businesses to accept debit card  for any transaction over 30 Euro. The idea is to clamp down on the underground cash economy in Italy.
The Banks is the UK have been itching to get their hands on cash transactions in the UK to make them "cashless" thus charging their 3% or fixed fee on any transaction. I wonder how long it will be before the banks persuade the UK Government this kind of thing is essential in the UK. I can see the Treasury licking its lips at the thought of the extra tax from cash transactions.
Now Zen, but a +Net residue.
14 REPLIES
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Registered: 18-01-2013

Re: Bye bye cash

Is this giving them the "option" to either take cash or debit on transactions above 30 euros or a straight ban on any cash transaction above 30 euros ?
Debit card payments from terminal machines are only around 50p per transaction (maybe less). Don't get me started on Amex merchant fees ......
Community Veteran
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Re: Bye bye cash

Yeah and on that note, London buses will stop accepting cash on the 6th.
Really looking forward to the tourist confusion that will cause, especially as I work not far from Buckingham Palace. Roll eyes
Going to be quicker to walk to the station from then on I think.
nanotm
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Re: Bye bye cash

the Italian move is to stop tax evasion through the cash economy that don't go on the books, in the UK we don't have the same problem collecting taxes from businesses' (cos they are all to busy legally avoiding them to waste time fudging the figures) any move to go cashless here is driven by the businesses themselves and is largely down to insurance reasons or to prevent staff skimming the till ......
just because your paranoid doesn't mean they aren't out to get you
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Re: Bye bye cash

Quote
Bye Bye Cash

And for those who live in fear for their personal data, what a wonderful source of accurate data on the spending habits of the populace.
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Re: Bye bye cash

What, you don't have a Nectar Card?
Now Zen, but a +Net residue.
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Re: Bye bye cash

Funnily enough, yes. It came with my new car complete with a couple of thousand points Smiley Undecided
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Re: Bye bye cash

Ah. If you use it the supermarkets will pass data on what you purchase to a massive database. It will list how much you spend, where and at what times. It will also record details of each item purchased. All neatly tied to your home address and on sale for whomever wants to buy the data.
Purchase using cash and no loyalty card and it will help  keep you off grid.
Now Zen, but a +Net residue.
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Re: Bye bye cash

That collection of data, at the moment, doesn't bother me.
So, I might get some specific adverts sent my way. I'll do as I do now, ignore them.

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Courage is resistance to fear, mastery of fear, not absence of fear - Mark Twain
He who feared he would not succeed sat still

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Re: Bye bye cash

Quote from: AlaricAdair
Purchase using cash and no loyalty card and it will help  keep you off grid.

My post (Reply #4) implied that.
I'm not part of the group I mentioned as anyone is welcome to data on my shopping habits.
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Re: Bye bye cash

A database of shopping habits can be a bonus.
For instance, the other day SWMBO went to bed leaving me to organise the online Tesco shop.
I couldn't remember what brand of this she likes or what flavour that and so fourth. But there were my previous orders and favourites with most things in front of me. I could happily order everything I knew she wanted with confidence.
Well, blow me, I still managed to get it wrong Crazy

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Courage is resistance to fear, mastery of fear, not absence of fear - Mark Twain
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nanotm
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Re: Bye bye cash

strange that ....
just because your paranoid doesn't mean they aren't out to get you
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Re: Bye bye cash

Other than bus fare, I rarely use cash anymore.  Most of what I buy is bought online and even when I do buy from a local shops[Scotmid], they have the facility to pay using a card.  The only down side is if I pass a chippy and have a craving, I can't get a fish supper as they usually only take cash.
Unvalued customer since 2001 funding cheap internet for others / DSL/Fibre house move 24 month regrade from 8th May 2017
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Re: Bye bye cash

I usually have a small quantity of cash available to me as going into McDonald's for a coffee and paying with a card just wouldn't feel right.
Maybe it's an age thing.
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TORPC
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Re: Bye bye cash

So that's the new plot by the BBC fat cats then Grin